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First PacTrust Bancorp, Inc. Receives Federal Reserve Approval for Acquisition of Beach Business Bank

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First PacTrust Bancorp, Inc. Receives Federal Reserve Approval for Acquisition of Beach Business Bank Powered By Docstoc
					
				
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Description: IRVINE, Calif.--(EON: Enhanced Online News)--First PacTrust Bancorp, Inc. (Nasdaq: BANC), the holding company for PacTrust Bank, announced today that the Federal Reserve Bank of San Francisco had approved its application to become a bank holding company and to acquire Beach Business Bank. First PacTrust expects to close the acquisition shortly following the expiration of the 15-day waiting period associated with the Federal Reserve’s approval order. As previously announced by Beach, Beach’s shar a style='f
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